President Icehead: "No money for Social Security!!" But keep spend, spend, spending on Iraq!

[Bluebear]

"If we don't act, we're looking at about an $11 trillion hole* for the American taxpayer coming up. This is a big liability not for me or baby boomers ... but if you're a young worker, you've got a problem."

*(The president incorrectly suggests that the young workers of today will face an $11 trillion Social Security shortfall if the program continues on its current course. The annual report from the Social Security Trustees says the projected Social Security shortfall over the next 75 years is about $3.7 trillion, a significant amount, but considerably less than $11 trillion.)

http://www.cnn.com/2005/ALLPOLITICS/03/04/social.security.factcheck/index.html

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WASHINGTON — Keeping troops in Iraq for another year and a half will cost nearly a quarter-trillion dollars — about $800 for every man, woman and child in the U.S. — under the budget President Bush will submit to Congress Monday.

Bush will ask for $100 billion more for military and diplomatic operations in Iraq and Afghanistan this year and seek $145 billion for 2008, a senior Pentagon official said Friday. Those requests come on top of about $344 billion spent for Iraq since the 2003 invasion that toppled Saddam Hussein.

http://www.timesargus.com/apps/pbcs.dll/article?AID=/20070203/NEWS01/702030337/1002